Islamic finance to fuel China’s Belt and Road initiative: Prince Turki

Finance from Islamic nations wants to play an important role in China's Belt and Road initiative, Turki bin Faisal Al Saud said at the International Finance Forum in Beijing on November 7.
Also known as Turki Al Faisal, Prince Turki is a member of the Saudi Arabia royal family, one of the founders of the King Faisal Foundation and chairman of the King Faisal Center for Research and Islamic Studies.
"I'm glad to see that the AIIB (Asian Infrastructure Investment Bank) is considering taping Islamic funds," he said. "Islamic finance is very suitable for infrastructure financing, and we want to contribute to the One Belt One Road."
The initiative is composed of infrastructure development across Asia and Europe. It's estimated that China will invest a total of $900 billion and spur a regional input of $300 billion.
Chinese banks having been raising clout in the Gulf such as issuing bonds. The country is also strengthening its trade relations with Islamic countries.
However, the plan comes with risks, as Chinese companies have to first become familiar with Islamic finance, which has complex rules.